Financial LIteracy for Kids

What should James do with his birthday money?

• Save it in a bank account

• Lose it

• Give it to his friend

• Spend it immediately

What are the two main types of bank accounts discussed?

• Fixed and Recurring

• Checking and Brokerage

• Current and Savings

• Deposit and Loan

Why do banks pay interest on savings accounts?

• To use the money for other projects

• Because they want to give away free money

• As a fee for account maintenance

• To make account holders rich

What is the purpose of a current account?

• To lock money for a fixed period

• To save money for a long time

• To invest in stocks

• To frequently deposit and withdraw money

Where did James hide his money?

• In a bank vault

• In an old smelly sock

• Inside a book

• Under his bed